Laid Off from Work? How to Stay Afloat Financially

If you find yourself one of the millions of Americans without a job due to a layoff, you may start to worry about your finances. Even if you collect unemployment benefits and are lucky enough to get a severance package, they don?t come close to what you were making before. Most importantly, they will not last forever. So, how can you ensure you stay afloat financially when laid off from work?

The single most important thing to know and always remember is the phrase ?live within your means.? First, you must know what they are. Take your weekly unemployment check and add any additional income, like from a working spouse. Times that by four. This total is what you must live from each month. Since you are making less, you need to spend less. Continue reading on for a few good ideas.

If you had health insurance through your job, do not fret right away. You have the option to extend your coverage through COBRA. Unfortunately, it can be very expensive. Check your options first. Would it be cheaper to get COBRA or purchase insurance directly through a provider? If you are married, can you get health insurance coverage through your spouse? Also, check with your state. Since you are making much less, you may qualify for government sponsered programs, such as Medicaid or Health Plus.

Reduce your use and the cost of paid services. Paid services include everything from house cleaning to childcare to getting your nails done twice a month. Yes, you may get an affordable rate, but that rate will significantly add up overtime. If you do not anticipate finding a job in a month or two, discontinue childcare. Watch your kids and rely on friends and family to help you for job interviews and errands. Other moneysaving tips for paid services include mowing your own lawn, doing your own nails, and having a friend cut or highlight your hair.

Do not rely on credit cards to survive. This will not only save you money in the long-run, but also help you avoid debt. Now is the time to cut up multiple credit cards. It is just too risky to have them. One credit card is good for emergencies, but know how to use it properly.

Lower the cost of your car. Start with the car itself. Is it paid off? If so, you are good. If not, can you afford the monthly payments? If not, now is the time to consider selling and buying a cheaper used vehicle. Don?t wait until your vehicle is about to be repossessed due to non-payment. Then, focus on car insurance. If you have a good driving record, call around to get a cheaper rate.

Reduce the cost of necessary utilities. For the heat, turn it down a few degrees in the winter. In the summer, be cautious with air conditioning. Keep your air conditioner turned on at a reasonable temperature, run only when needed, and use fans too. For water, work on shortening the length of your showers, do not leave the water running when doing dishes, and only run the dishwasher when full. As for electricity, keep all lights, the television, and computer shut off when they aren?t in use. Also, look for a cheaper phone, internet, and television package.

The above mentioned steps are just a few you can take to avoid debt after a job layoff. Your goal is to live within your means. That involves cutting costs. Spend less and do not rely on credit cards; you should survive this financial complication unscathed.

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How to Avoid Getting Laid Off from Your Job

It seems as if job layoffs are becoming a daily occurrence in the United States. It seems as if you can?t turn on the television without hearing a news report of a company closing their doors, putting a freeze on new hires, or laying off current workers. You may be concerned with your job and rightfully so. Layoffs are tricky. Companies use different standards to determine who stays onboard and who stands in the unemployment line. Although there are no guarantees, you can take some steps to help save your job. What are they?

Know the risk of changing jobs right now. With the poor economy and job market, you may think it is better to find a new job. Why wait until you are laid off? Why not find steady employment before there are an additional 100 people in your community looking for the same job. This is a good theory, but consider the industry first. The auto and manufacturing industries are in poor shape. These plants are the ones cutting back costs and laying off workers the most. Therefore, you leave your current job working at an air conditioning manufacturer to find a new job making auto parts. Great, but what if your new employer decides two months down the line that they too need to cut costs? As a new employee, you may be the first to go. Many companies base who get laid off on seniority. The newer employees are often the first to go.

Offer to take a pay cut. Right about now, you may be thinking ?why on earth would I offer to take a pay cut?? This is a good question. Don?t walk into work one morning offering to work for less pay. You should keep this as last resort. Use it as a last ditch attempt to keep your job. Did you just receive a layoff notice? If so, consider visiting the office of your supervisor. Explain the layoff will hurt you financially, but that you also understand the company needs to cut costs. Offer to take a reasonable pay cut. Once again, there are no guarantees, but it might help to save your job. Before taking this approach, estimate your unemployment. Would you make more from unemployment or with a pay cut?

Pay attention during company reviews. Many companies review their employees once or twice a year. This review may entail a meeting with your supervisor or just getting a sheet of paper with their findings. Either way, look at your review, what you need to improve on, and take all suggestions to heart. Many companies layoff workers based on seniority, but others try to get rid of the poor quality and poor performing workers first. Show your supervisors that you are a valuable asset. This best way to do this is to take any criticism you receive, set goals, and make the change. If your bosses notice a significant improvement in your work performance, they may reconsider laying you off.

Showcase your ability to perform more than one task. Whether you work in an office, in a factory, or in the field, do more than just your job. Did you overhear your boss saying they are short staffed in the mailroom? You may be a secretary, but offer to stay late to help. Not only does this show drive and determination, but it also showcases your skills to do different tasks. In addition to laying off workers, some companies are restructuring. This means a sales representative now may work as a secretary, and so forth. In the event your company decides to layoff and restructure, make sure your supervisors know you are willing to try anything to keep your job.

Increase your worth with night classes or career training classes. One of the reasons why new employees are often the first to go is because of their lack of experience. You can compensate for this with job training. Take a college class online or at night or enroll in a career-training course at your local vocational training center. Don?t just do it, but talk about it with your supervisors. They need to know that you are taking the steps to get additional training and will be a valuable asset to the company.

In short, there are no guarantees these steps will spare you from unemployment. Luckily, they are easy to implement and it will not hurt to try them. If you suspect your job is in jeopardy or have just received a layoff notice, don?t sit back and wait. Take action today.

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How to Prepare for a Layoff

Right away, you may be thinking ?why on earth am I reading an article on how to prepare for a layoff?? Yes, this is a good question. We are all encouraged to think positive about the job market, our careers, and the economy. That much easier said than done. Rarely does a day go by without the evening news mentioning a company closing down, laying off workers, or imposing a freeze on hiring. Will you be next? Honestly, you might be. You know the economy and job market is bad when both schools and hospitals are laying off workers. Aren?t teachers and healthcare workers essential? Yes, they are. That is what makes this whole ordeal scary.

As previously stated, companies, businesses, and all industries are impacted by the poor economy. Workers once considered essential components of a company are now left standing in the unemployment line. When it comes to preparing for a layoff, it is important to start out small. There is no need to get worked up and panic for nothing. With that said, it is always good to be prepared. Whether you know your company is losing money or hear layoff rumors floating around, now is the time to act.

So, how can you prepare for a layoff that may or may not come?

Update your resume. If you have worked at the same factory for ten or more years, you likely haven?t touched your resume in that same amount of time. In fact, do you even have a resume? If you hear rumors of layoffs, it will not hurt to be prepared. Brush off your resume or create a new one. You can hire a professional resume writer or use the internet to find free resume templates. Use these templates as a guide.

Take a few college classes or career training classes. When possibly facing layoffs, look at the big picture. How much job experience and training do you have in your field and how many jobs are available in that field? Right now, factory jobs are in trouble. Americans working in manufacturing plants are more likely to experience layoffs and find it harder to land a new job. Increase your chances by taking a couple of college classes at night or online or career training classes. They can open up new doors and also give you an advantage over other job seekers.

Start saving money. The biggest concern of Americans laid off and those who anticipate a layoff is with finances. Unemployment benefits rarely come close to what a working American was brining home each week. Since you will have less income coming in, you must spend less. This is not an easy transition. Get started now. Look at your phone, internet, and television packages. Opt for cheaper ones. Eliminate unnecessary purchases, use coupons at the grocery store, and so forth. If you get laid off from your job, you are prepared. If you are lucky and continue working as normal, you have extra money in your pocket.

Work on supplementing your income. With this step, you need to proceed with caution. There are many ways to make money online, but there are also scams. Although the internet is a tricky way to make money, it is usually one of your best options. When making extra money from home, you are usually classified as a contract worker, not an employee. If you walk into your local pizza joint and get a part-time job as a delivery person, you are an employee. Should you get laid off from your full-time job, unemployment benefits may be denied, as you are still technically employed. In addition to supplementing your income, work on raising extra money. Look around your home. Gather unused or unwanted items and host a yard sale or sell them on eBay. Find spare coins to take to the bank.

Have a game plan in place. Although there are no guarantees you will be laid off from your job, it is still important to consider the risk. If you hear rumors or know your company is in financial trouble, it will not hurt to be prepared or have a plan. What do you want to do? Will it be cheaper to find a low paying job or collect unemployment and take your time looking? Do you want to stay in your current industry or go back to school and try a new path? Ask yourself these questions in advance to be prepared.

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Laid Off and Looking for a New Job? 5 Places to Look

Were you recently laid off from work? If so, you may want to jump right back in and find a job. Good for you, but where should you look? If it has been ten or more years since your last job search and interview, you may not know.

So, where should you look for a new job after a layoff?

1 ? Your Newspaper Unemployment Section

Most newspapers have a classified section. In that classified section, you will find another section for employment. It is here where you will find open position locally. In addition to daily newspapers, be sure to check your weekly classified newspaper. Some companies prefer to advertise in this instead, as it is cheaper. You must act fast when taking this approach. It is how most people find and apply for jobs.

2 ? Job Search Websites

Job search websites come in different formats. You will find generalized websites and those that target certain industries. For the best chance of success, visit them all. Perform a standard internet search with the phrase ?job search.? You will find Monster.com, HotJobs.Yahoo.com, CareerBuilder.com, and more. Different websites have different job listings, so search them all. Also, look for a resume listing service. If you can list your resume on these websites for free, do it! Not all companies post job listings. Instead, some prefer to browse resumes themselves to find qualified candidates.

3 ? Company Websites

Nowadays, many companies have a website, even if they don?t sell products online. This website is usually to inform the public about their business and its purpose and to attract new clients. On these websites, you can usually find employment information. Towards the bottom of the page, look for a section listed as ?Careers,? ?Jobs,? or ?Employment.? It is here you will find a list of open positions or instructions on how to apply for a job locally. This approach is hit or miss, but easy to try.

4 ? Job Fairs

Due to the poor economy, job fairs have decreased in frequency, but they still occur. You can usually find information on local job fairs by searching online or looking in newspaper classified sections. Due to the high unemployment rate, job fairs are packed to capacity. You need to arrive early, especially if the unemployment rate is high in your community. It is not uncommon for late arrivers to have to wait an hour or more in line! When attending a job fair, don?t dress like it is another afternoon at the mall. Bring many copies of your resume and dress as you would for a scheduled interview.

5 ? Staffing Agencies

Staffing agencies come in different formats. General ones will help you find any type of job. There are also industry focused staffing agencies and temporary ones. Temporary jobs are nice, but their varied availability may have a negative impact on your unemployment benefits. Before paying for a professional service, check with your local city or state. Some offer similar job search services and more, like resume help, free of charge.

Highlighted above were five places you should look for a new job after getting laid off. This is just a starting guide; you have more options. Most importantly, keep your eyes and ears open at all times. You never know when an amazing opportunity may present itself.

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What to Do When You Can?t Find a Job after a Layoff

If you were laid off from your job, you should actively be searching for a new one. Unfortunately, the search may not go as you had hoped. Millions of Americans are unemployed. All of those people are looking for jobs. The competition is fierce and the number of available jobs is limited. What should you do if you keep hitting roadblocks? What should you do if you haven?t found a job after actively searching for months?

Don?t get stressed and do not panic. Job layoffs are scary. An income is lost. Many Americans qualify for unemployment benefits and some receive good severance packages, but they do not last forever. After searching four months for a job, panic is likely to set in. You may wonder how you will pay the mortgage or how you will put food on the table. Panic will not do any good. In fact, it just makes the situation worse. If you haven?t already, work on reducing expenses at home. Shut off your cable or satellite television, even just temporarily. Save money any way that you can.

Don?t give up. If you have been actively searching for a job for four months, you could have easily attended 100 job interviews. However, you are still unemployed. Talk about depressing. Nothing feels worse than having 100 people basically say you are not good enough for the job. You may want to stop looking altogether, but don?t. Keep your head held high. Layoffs influence many. You may have had 20 years experience working as an auto mechanic, but they may have hired someone with 30 years. It does not mean you aren?t good enough for the job, someone just had more experience.

Slightly lower your standards. If you worked as a retail district manager, you held a high position. You were in charge of store managers, who were in charge of their employees. The poor economy has impacted retail stores all across the country. Companies are downsizing and closing many stores. Now is not the best time to find a well-paying job as a district manager. For that reason, consider slightly lowering your standards. Apply for store manager or assistant manager jobs. You are more than qualified. Yes, the pay is less, but at least it is a job.

Look for part-time work. After a job layoff, many Americans want to get back to work. Unfortunately, everyone wants the same type of job with the same type of pay. This is full-time work, as it provides better pay and benefits. Full-time positions have the most competition. Keep applying for these jobs, but consider using a part-time job to fill the void. If unemployment was denied or if those benefits are running out, you may not have a choice. Luckily, part-time jobs don?t have to last forever.

Do odd jobs around your community. Before getting laid off, did you work as a construction worker, landscaper, or in another similar field? If so, you provide a service. These services are always in demand. You may have experience building schools, but why not help an older woman in your community rebuild her garage? You may have been a landscape designer, but why not mow lawns for extra cash? Odd jobs are not steady, but they will bring you much needed money.

Consider starting your own business. With the poor economy, you may think now is not the best time to start a business. It depends. Some communities have skyrocketing unemployment rates, while others only saw a slight increase. If your community was one, you could easily start a business and see profits. The key is to choose your location wisely, as well as your business. Do not start a dollar store if your small community already has one. Do not start a lawn mowing business unless you intend to charge fair and reasonable prices. As previously stated, odd jobs are a great way to put food on the table. They are a great way to test the waters for starting a new business.

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